Element 25 Limited · ASX:E25
Element 25 — IMARC Conference 2026
29 slides from Element 25's conference presentation, Oct 29, 2026
Slide 1: Building a Global Manganese Business
rsonal use only Building a Global Manganese Business Sustainable manganese ore and HPMSM for global steel and battery markets. Presentation – IMARC Conference – October 2026 ASX : E25 OTCQX : ELMTF
Slide 2: Disclaimer
Disclaimer This presentation (Presentation) contains only a brief overview of Element 25 Limited and its associated entities (Element 25 or E25) and their respective activities and operations. The contents of this presentation, including matters relating to the geology of Element 25's projects, may
Slide 3: Element 25 Introduction
Element 25 Introduction Long-Life, 100%-Owned Manganese Mine rsonal use only E25 Construction Ready Mine Expansion Strong Feasibility Study/Financials ELMTF ESG Leading Innovative HPMSM Flowsheet ISSUED SHARES 326M Tier 1 Jurisdiction Tier 1 Project Customers & Partners TOTAL DEBT NIL 3
Slide 4: Strategic Vision to Create Shareholder Value
Strategic Vision to Create Shareholder Value Butcherbird Expansion Louisiana HPMSM Expand Globally rsonal use only 1.1Mt p.a. Manganese Concentrate USA Critical Raw Materials HPMSM Expansion - EU & Asia Build and commission a large-scale processing Construct the first US HPMSM processing facility Mu
Slide 5: The Butcherbird Manganese Project
rsonal use only The Butcherbird Manganese Project
Slide 6: Butcherbird Manganese Project, WA
Butcherbird Manganese Project, WA World-Class Large-Scale Long-Life Mine rsonal use only Resource Production >18 years production >270M tonnes 1.1M tonnes per year Unique geology - very clean metallurgically – no toxic contaminants. Located in Australia, a Tier-1 jurisdiction with strong ESG regulat
Slide 7: Large, Long-Life Manganese Mine in the Pilbara
Large, Long-Life Manganese Mine in the Pilbara CONSTRUCTION READY Manganese ore loadout • Granted Mining Lease rsonal use only during Stage 1 pilot • Fully Permitted operations. Mining Lease - M52/1074 Mining Reserve: 101.4Mt @ 10.4% Mn1 • Early Procurement Commenced • Existing infrastructure in pla
Slide 8: Simple Geology: Low-Cost, Low-Impact Operations
Simple Geology: Low-Cost, Low-Impact Operations Classification Tonnes (Mt) Mn (%) Contained Mn (Mt) RESOURCE GROWTH POTENTIAL Resource 274 10.0 27.4 rsonal use only • Large resource offers long term Reserve 101.4 10.4 10.5 operating potential. • Mineralisation outside existing resource provides upsi
Slide 9: Butcherbird to Expand to 1.1Mt p.a. Production
Butcherbird to Expand to 1.1Mt p.a. Production New, re-designed and expanded processing facility to optimise and rsonal use only scale the process. LOGWASHER Key Metrics Unit Value Ore Mined Ktpa 6,100 Concentrate Prod. Ktpa 1,100 SCREEN DMS PLANT Concentrate Grade Mn 31.6% Undiscounted AUD (pa) $70
Slide 10: Butcherbird Expansion Project Delivery Summary
Butcherbird Expansion Project Delivery Summary EARLY WORKS PROCESS PLANT OPERATIONAL READINESS SP1 SP2 OPS rsonal use only MATERIALLY COMPLETE AWARD PROCESS IN PROGRESS EARLY SITE WORKS DELIVERED PROCUREMENT & CONSTRUCTION OPERATIONAL READINESS ADVANCED Detailed engineering and IFC packages Pit-to-P
Slide 11: Early Works Package Completed
Early Works Package Completed rsonal use only • Site clearing, RECLAIM • Bulk earthworks ROM • Process water storage pond and pipelines. SITE OFFICES • Relocation and expansion of operations centre. • Power, communications, PROCESS WATER STORAGE water and wastewater services. 11 Reference: Company A
Slide 12: Butcherbird Expansion – Targeting Completion in Q1 2027
Butcherbird Expansion – Targeting Completion in Q1 2027 ReGroup mining & NAIF binding A$30M standby haulage contracts; agreement & Targeting ATM facility – HPMSM plan Revised DoE grant contractual close; mechanical rsonal use only Acuity Capital under review agreement signed SP1 early works completi
Slide 13: The Manganese Ore Market
rsonal use only The Manganese Ore Market
Slide 14: Manganese Is Comparatively Abundant But Not Everywhere
Manganese Is Comparatively Abundant But Not Everywhere… • Manganese deposits heavily concentrated in Manganese ore global distribution: rsonal use only challenging jurisdictions. • Australia is the only allied country with significant manganese reserves and production. • Australian manganese product
Slide 15: Butcherbird Expansion – Scale Supports Lower Cost Structure
Butcherbird Expansion – Scale Supports Lower Cost Structure Global Production Cost Curve – US$/dmtu CIF China rsonal use only Butcherbird Expansion Project 2025 FS Sale Price (Yrs 1-5) (US$4.59/dmtu CIF China AISC) Long-term Average Price(44% CIF China) Woodie Woodie Current Spot Price (44% CIF Chin
Slide 16: High Purity Manganese Strategy
rsonal use only High Purity Manganese Strategy
Slide 17: Manganese: Rising Demand and Concentrated Supply
Manganese: Rising Demand and Concentrated Supply D E M A N D — D I V E R S IF Y I N G B E YO N D E Vs S U P P LY — TO P R E F I N E R S H A R E BY M I N E R A L rsonal use only Grid storage reaches mass deployment Manganese: 3rd most China-reliant 158 GW BNEF: 112 GW / 307 GWh of non-pumped hydro Ga
Slide 18: Transition to Higher Manganese Battery Cathodes
Transition to Higher Manganese Battery Cathodes Illustrative image Illustrative image rsonal use only 01 – LMR Batteries 02 – HPMSM Demand 03 – Security of Supply High manganese cathode chemistries GM’s Gen IV EV platform materially increase the demand for refined of manganese refining will be LMR o
Slide 19: Improved, Cost-Competitive, Cleaner Process Technology
Improved, Cost-Competitive, Cleaner Process Technology The Element 25 Process brings significant changes & improvements: rsonal use only E25 technology enhances ESG profile by: • Eliminating waste residues. • Eliminating toxic Reagents like fluorine. • Increased efficiency and lower costs. Fewer Rea
Slide 20: Global Refining Capacity in the Longer Term
Global Refining Capacity in the Longer Term ** Flagship Louisiana HPMSM Facility: EU EU & UK policy shifts are MoU signed with Nissan • Supply chain security needs driving competing with the IRA Chemical Corporation to capital flows into US projects. rsonal use only for investment in battery jointly
Slide 21: Louisiana Battery Grade HPMSM
rsonal use only Louisiana Battery Grade HPMSM
Slide 22: DoE MESC Grant - Supporting Local Raw Material Supply
DoE MESC Grant - Supporting Local Raw Material Supply Local Supply Chain Mn Ore Comminution rsonal use only • Process and supply chain developed to maximise U.S. industry involvement. Reductant Leach US$166M Acid Grant • Working with partners GM and Stellantis to supply low carbon HPMSM for EV batte
Slide 23: DoE MESC Grant - Supporting Local Raw Material Supply
DoE MESC Grant - Supporting Local Raw Material Supply The MESC Grant Program: rsonal use only • The Battery Manufacturing and Recycling Grants Program provides grant funding to selected projects on a co-funding basis. • The Program aims to ensure that the United States has a viable domestic manufact
Slide 24: Louisiana HPMSM Project: Strategic Drivers
Louisiana HPMSM Project: Strategic Drivers Project timing driven by three intersecting elements: STRONG SUPPORT rsonal use only ▪ Alignment with U.S. critical US$166M minerals strategy ▪ Major global OEM partners US DoE grant funding ▪ ▪ ▪ ▪ Louisiana State & community support Demand S T R A T E GI
Slide 25: Sustainable, Secure Manganese Supply
Sustainable, Secure Manganese Supply ▪ 18.3-Year Reserve within granted Mining Lease Long Mine Life at Butcherbird ▪ 274Mt Resource global resource with exploration upside rsonal use only ▪ Feasibility Study and project permitting complete Construction Ready ▪ Northern Australia Infrastructure Facil
Slide 26: Planned HPMSM facility in Louisiana, USA
Planned HPMSM facility in Louisiana, USA rsonal use only For Illustration Purposes Only 27 *Subject to successful project financing and permitting
Slide 27: Contact Details
rsonal use only Contact Details Justin Brown Media Inquiries: Managing Director Nathan Ryan Email: [email protected] Email: [email protected] Phone: +61 (8) 6375 2525 Phone: +61 (0) 420 582 887 ASX : E25 OTCQX : ELMTF
Slide 28: Butcherbird Manganese Mine - Resources & Reserves
Butcherbird Manganese Mine - Resources & Reserves 1 Ore Reserve rsonal use only Deposit Classification Tonnes (Mt) Grade (Mn%) Contained Mn (Mt) • Current Reserve: Proved 11.3 11.8 1.33 Yanneri Ridge • Only utilises approximately ~40% of Probable 70.4 10.2 7.15 Coodamudgi Proved - - - global Mineral
Slide 29: Competent Person's Statement
Competent Person’s Statement The information in this report that relates to Exploration Results and Exploration Targets is based on information compiled by Mr Justin Brown who is a member of the Australasian Institute of Mining rsonal use only and Metallurgy. At the time that the Exploration Results